EVENING IiEDGEB PHILADELPHIA. SATURDAY, 'APRIE 1, 1916.
FINANCIAL NEWS
RESPONSE T6 GOOD MEXICAN NEWS
SHOWS STRONG UNDERLYING TONE
Even Specialties Are in Good Demand Belief Prevails
That Control of Mexican Petroleum- Is Held
by Standard Oil Interests
NEW YOniC April 1.
" ttw manner In which the stock markot responded to tho favorablo news
from jtexico furnished further evidence of tho' strong underlying tone. Even
tbc' afMctaltles which brokers are disposed to" discriminate against wore In do
MM t advances at Uie opening and for some time after It, hut most Interest
irta ahown In Mexican Petroleum because of tho good news from tho Pershing
Bpsftron .
Walt fetreet rutty understands that with tho Mexican Petroleum properties
located near Tamplco there has never been any menace, but the progress made
In tho pursuit of VlUa had a sentimental Influence which was expressed most
itrongly In the trading In that stock. In some quarters the belief prevails that
control of Mexican Petroleum has gone out of tho hands of Lewlsohn & Salomon
mni Is held, by Standard Oil Interests. Somo of the copper stocks were what
the Street calls "Jacked up," with a steam roller at work to mako Kennccott
Copper strong.
American Smelting was also Influenced by tho Mexican news, and there was
, a demonstration in Grecno-Cananca, based on the same Incentive. Pools In Borne
of.the specialties couldn't let tho opportunity pass for forcing their favorites Into
attention, and Industrial Alcohol was made promlnont with Its four-point ndvanco
without any special reason.
The standard Issues reflected tho true situation better than any of tho
specialties. Thoso stocks fluctuated within a narrow range, but New York Central
Was comparatively strong, and the pressuro which mado It weak yesterday was
no longer In evidence. As a matter of fact, yesterday's heavy selling of Now
York Central was simply tho selling out of the same amount of stock which
&ad been bought two days before, and on which tho prlco was forced up to 106.
Tho foreign exchango market was featureless, excopt for weakness In Italian
fHre, -which declined to 6.60, and strength In Madrid exchange pesetas advancing
18 points to 19.45, and putting Madrid In a position, to which a gold movement
to this city Is Justified If transportation could bo assured at tho present tlmo.
Xtates now favor Scandinavia. Holland and Spain as points to which gold oxports
f could bo made If normal transportation conditions prevailed.
. ' Railroads Default on Bond Interest
NEW YORK, April 1. Tho following statement has been mado by Oeorgo
"W. Ely, secretary of the New York Stock Exchange: "Notice has boon received
that Interest duo today on tho following bonds Is not being paid: Missouri,
' Kansas and Eastern Railway Company first mortgago 5 per cent, guaranteed
' bonds, due 1942; Missouri, Kansas and Texas Railway Company, St. Louis dlvl-
I slon, refunding mortgago 4 per cent, bonds, duo 2001."
EENEWED BUYING
SENDS WHEAT UP
Unfavorable Crop News and
Steadiness at Liverpool.
,' Strengthens Market
r
WEATHER CONDITIONS
. NKW YOBK. April 1. Adrlces weired
at the Weather Ilnrrau thin mornlnir In
dicated the following weather condition!
Temperatures.
nun. iow.
Canadian Northwett ...clear a?
Hortnwrsr nrnr
Mlddlewest preeln. o
Fonthvrent ....... ....preelp. 08
pper Mississippi vai... clear "
tver Mississippi vai,..cier
Up
IO'
Ohio Valley
..prtclp. 60
14
14
32
34
42
IS
42
f11j.vlnw nrtnltaflnn (In Inrhen)
mi reported! ..01 at Haw and Cleveland
,64 at St. Iolt .10 at Fort Wnynej
. at Kansas City. Davenport and
feiwlnrfleld. 111. I .SO at Bprjncllrld, Jlo.l
.44 ai Cnlcaso. and .46 at Keokuk.
CHICAGO, April 1. There was re
newed buying of wheat this morning and
the market was stronger on unfavorable
.crop advices and steadiness In the market
at Liverpool, where there was disappoint
ment over tho clearances from exporting
countries for the week,
'. The Oklahoma report for April was
bullish, and said that rain was needed
urgently. It put the condition of the
crop In tho stato at. 87, againai io a.
I month "ago. 86 a year ago and 80 last
f june,i loaay b weauwr imip bhucu tuvu
! moisture In the Southwest over night.
Mfay opened at Il.USrl.13Si. against
i.lk'ik at the end yesterday: July started
ft 11.12 01.12 H. against $1.12 at the
close yesterday; September openea ai
al.lOU01.lOU. yesterday's last price.
Prices dipped a little after the start, but
strain worked unward. Slay selling at
i 31.14 H before the end of the first half
Ifcotjr, and September at $1.10 H-
The receipts at Minneapolis ana ouiutn
rere 236 cars, against 304 cars a year
so; at Winnipeg. 671 cars, compared wun
t cars; at Chicago. 216 cars against 74
k. nnrti thnt the, United Klncdom
purchased a large amount -of grain
Russia, tor snipmeni via me jjarua-
g, were declared to do wunoui lounau-
5 .Export sales In tne past 45 noure
etlmated at z.vuu.uuu ousneis.
1 u nfilfr TIia recelnta here to-
Lre 1 cars. Tho market at Llver-
ft. .1..I1 fhft rkUlnhnmn renort said
rT.. n I.A ninnrft In thnt Start)
, nrnmlRfd to be 4 ner cent.
U-. !. , nf lnnt vMr.
KuII.m In n.la WBFM fllsft (1T1 R H111A11
ucnutiba w ....... ... -.. --
Me. The receipts here today were 90
FOREIGN EXCHANGE
w vnntr Anrll 1. Rates In the
foreign exchange market follow: Demand
iBterllng. 4.74; cables, 4.77: franc, checks,
B6 97: cables, 6.964; relchsmarks.
eucKs, 7z;cames, um nrc. "" "
.ili. a RffiL. RwtfiK rhuckii. 5.21: ca
Mm, S.si; Vienna, checks. 12.41; cables.
M3; Stockholm. cnecKS, ss.so; cameo,
85r pesetas, cnecKa. i.d; cames, .,
i-'r -.. ' , jams Mhl.D 21l.1ft.
era, cocci, -tan, .-, .--t
. -i ir. nMiL 31.45. Sixty-day
ln bills were quoted at 4.73, and 90.
WUs, 4,71.
, . f
BATES FOR MONEY
Call .'TIS1;.,
rv 1W )S?H
1 ::::::::::: 3w Sta8,
St, ::: :... sue 4 f4H
-ZZ 4,i V.nf A tn K mantha. Phlla
4cbl, 8H04 pr cent.
BANK CLEARINGS
BANK CLEABINCJS.
Bank cUartnsa today compareI vttn eorre
aPfilHUng day last two 7eara:
...i?8 iSi5-.. ..J.BA..
4-i.7UU.oaa iau.ud-.ju- rx'?'2?
Vof)c'48a!B41,'S7u 20S:S73.'837 34t.28S.644
erve Banks' Discount Rates
-Haya-
S
a.
9
,'aH
..... 6..
AUaU. , 3
onrairo ...... n
. fcsBkf,-..,. 9
MMUuulJa ... .
XaasaJi Ctty . 3U
M) taiicisca 4
10 or Orer 10 Ovr SO Orer 60
Ui. up to ?u. up to 60. up to 90
SVi
4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
b Y,ark . B
t - 4
0ef 80. Up lo.UO. it) to( so.modity,
?? 571
1 -71
a
4
S
3V
s
4
Shi
an
9
3
.3
4U
H
.IttH d; ovtr JO to 0. 4 Pf osnt. t
. 9 oL. and vr W. pr
0
GOVERNMENT BONDS
Btd. AakwL
e-iut a "Wy.tTT
C 'SK 1M
a jwn , .....
lUSAi 103U
New York Bond Sales
..,, . HUch, Low.
J1000 Amer Atir Ea 102il 102U
,.H92 Amer Agr deb 5s... UU'.i 9H
B7B500 Anglo-Kr Ss U(l ,TA
1000 Amer Hide & L, OS..10I Kll
2UOO Argentlno Ss o a
100O Amer Tobac new fls.118 118
(1000 Atchison gen 4s. . . . 04 04
1000 Atchison Its mm KllH
230OO Halt & Ohio 3Hs... 0ST 1)2
11000 Halt & Oh Ss 100 1()0
2000 Halt t Oh 4s 01 h 01 H
B0OO Halt & Oh cv 4Hs.. Dili, 0u
.iHPi! lia,t & Swn av. . oi"s oi
inft! !"h, Bif1 rM 5S..101. lOlii
B00O C O C Ben 4s 78 78
Jn!!2 Cent Leath 1st Bs.ini 101.
0000 Can Gov w 1 6a 21. OUH oote
81000 do 1021 07U 07?
147.100 do 11131 . I B7i 0I1T4
?,000 Ch H Ohio cv 4 Hi 83 ! mC
iOOO do 44s ....v.... 0174 81T4
1000 C & NVn cxtr 07 "7
? do 3V4a 8t 81V4
102 d0 " 4a 0W 04 5
7000 C H & Q joint 4s... D8i OSH
2000 do gen 4s 0S ORK
ioo c it b st p cv e::io7 107
18000 do cv 4Mb lOOTtolOOH
3000 do fd 4g 04- 04
IgO" Clev 8 Line 4Hs...lO()T4 100'4
000O Col South 1st 4 01 111
1000 Cuban Am S fls 102i lOJi
'J000 Del & Hud 4s 1016.. 100U lou'i
1(1000 DIs Sec Corp fls.... 73i, 72T4
Ipoo Krle ra col 4s 80 aoi?
10000 Krlo CV D w I 4s. . . . 83 , 8.1 S
1000 nranby sta 6s 107 107
1000 Hud & Man In 8s... SHU anW
S0O0 Hock Vol 4Ws, 113 05
HSSH ! 8t"' db 44... mil oiu
2000 III Central 4s 1032.. U"H "H
2000 jnterb Met 4Ui 73 g 731?
17000 Interb H T ref 8s... 0! miS
4000O Int Mer Mar ct 4a Ii8 U8?5
4000 Internl Paper fls.... 00 no
1000 do 6s , .,.102Ji Krj'i
18000 Japan new O 8 44 s 78 ! 78
1000 Japan Q 8 4i 814 81W
200o Lacka Steel Bs 1023. 1001 10OH
2000 Laclede Uaa 1st 5s.. 1011 1014
1000 Lorlllard 7s 120H 12
6000 Lex & B 5 lolS 101 H
2000 Louis & Nash gen Sails 113
looo Manhattan ata 4s. . . 03 o.'i
1S0OO Mo Kan T 1st 4s. 72 71 "i
4uou Mut Un Tel Ss 1014 lOHj
1000 Mont Power Ss 07 07
800 N YlAlr Brake cv Os.103 103
7000 MTU H 3Ms .. 82H 82'i
1000 NYC Hud 4Hs. . 04i l4!
0000 N Y Cent Us 113I 1I3S
1000 N Y City 4s '57 OUVk 00
4000 N Y City 4s 'BO OOjJ II9
1000 N Y City 4'is '60..102(? 102W
1000 N Y, Dock 4a 75 73
30000 N Y Ilwy adj Ss . . . 50H 50
8000 N Y Tel gen 4Mb .. 08 08 "4
1000 N Y W C ft B 4Hs. .70 70
20000 Nor Pac prior 4s 93 VI 93 W
5000 do gen 3s llI fiilH
1000 Ore Sh Line 1st 6s,. 1084 108H
7000 Paclfls Tel 5s. , . . . Ions I00H
6000 Penna gen ct 4Ha..l02H 102
3000 Pub Herv N J fls... . 02 02
102OO Reading 'cen 4s 044 01.
1000 Kepub Cuba 5s 1004. 100U 100'.
7000 Hepub Ir & Ht Ss... 90V. 110 H
1000 Itock Island rfd 4s.. IHH (18 H
looo St I, I M43o cen Ss.101 Ion,
400t do Olf 4s 72V4 72
8000 St 1, 4 H V gen 4s. , SUft .111
12000 do rfd ct ata 4b., . D'JU 110
6000 do gen ct 4s 5UH SHH
1000 Seaboard A L sta 4s 82 82
2000 South. Pao 4s SB U 81I
4000 do CV 4s 88 88
4000 do cv ret t p Ss.. 1044 1044
3000 do rfd 4 0014 aoti
3000 South Uwy con Ss,.102 102
0000 So Ilwy M U O 4s,. 7tt 70 Vi
1000 Texaa Cq 0 10rH 103U
2000 Third Ave new 4a.. 821 824
1000 Third Ave adl Ss... 81 i 81.
6000 Toklo Ss 78 77i
0000 U 8 Steel Ss sf ..10 Hi 104
1000 U S Steel reg 5a,...10IU 104U
0000 Union Pac 1st 4s... on. 07H
2000 Union Pac cv 4s.... 02T4 02
8000 Union Pac rfd 4s.. DOH oou
3000 Va Itwy Ss OS; 08t
2000 Wabash 2d Bs OS 88
2000 West Electric Ss.. .1024 1024
lOito West Klec not Bs,,101H 101
1000 W N Y P 1st fls,104V4 1044
1000 West Md 1st 4s.... 74T 74 T4
100O Wheeling & L E 4a 60U COVs
-Ex Interest.
Close.
102 '.i
004
or,T
ll4
02
118
04
101 H
02 '4
1004
om
00 H
014
Kit '4
101 H
784
1111',
00 U
07 U
117
881
niT4
07
81 U
04 U
084
08 a
107
IIIOH
04
10OT4
111
lie;
100 J
73 J.
89 U
83 S
107
20 U
03
01 Ji
Illljj
oo4
OK'l
00
102U
814
unit;
101.
12(1 H
1014
113
03
714
10m
07
103
82 i
n:i
003,
102 tj
".
BO',
OS,'
7"..
03 U
mi H
loss
too S
102
02
941
100'S
00 !
68 H
101S
86 J4
CO',
56 l,i
82
86 !J
88
104 4
004
102 4
76V4
103 V,
824
81 ;
77 H
101
1044
074
OJT,
00H
08.
08
102 H
1014
inju
74 V
ou ii
NEW YORK BANK STATEMENT
Average and Actual Loans Increase.
Reserves Fall
NEW YORK April 1. The weekly
statement of the members of the New
York Clearing House Association shows
an Increase of $3,139,000 In average loanB,
and an expansion of 113,382,000 in actual
loans. Reserves In both statements were
smaller. Details follow;
AVERAGE.
Loans. Increase ...,,.,, 13,139,000
jienuna aeposiis, aecrease.,. ..,,., f,io,uvJ
Time deposits. Increase...,. 2,888,000
Jlewrveo. decrease, ...,..'.,,,. .. 6,159,830
ACTUAL.
Loans, Increase.. , ,, 13,382,000
Net demand deposits. Increase...,, 12,040,000
Time deposits. Increase.....,,...,, 3.102,000
Reserves, decrease 2,430,530
$100 BONDS
P.C. Due.
Alberta. Province of... 44 1924
Anglo-tVenrh 5 1920
Argentine Gov 5 1045
City of Ualtlmor 4 1902
City of Cbl. liar Con.. 4 1017
City of New Or Imp... 5, 1920
City of Vancouver 44 1823
New York City reg... 4V. 1904
New York City reg 44 I960
B . O. P t U K 1st 5 1950
Cen Ver Jty 1st reg ... 4 1920
CbL lsQ Pen Ext 4 1922
C if Jt St V gen rf coo B 2014
O f at St I eon -44 1832
Col & So ret ft ext 44 1933
N Y Cent coqv deb. . ft 1933
NY Lake (Erie) 1st S 1940
NY NH 4 II CO d CIS . 34 1850
NY Nllatl coo. deb reg 6 1848
Norf k. Wtst 1st con . . 4
Bet. Air L 1st t con . 0
80 Pao-Ssnr "r Ttrm la 4
Virginian Ky 1st 3
Amer Agrl Ch coin deb 3
1901)
1043
1B30
1962
1924
1923
1923
Si
Amvr Ice Secur tleb 0
ITiT fo!l Tf ctfs . 4
-.""I"-. -- J, ::
Anur 11 J coo jia "
llttt 8tecl lt 4 ref 3 litlZ
CentLeaXber 1st rest . 3 1926
Cities Srv coo note . T 191o
Com. v By LUbt son tt 191
Duo CU a- Elec 1st 3 1949
fln Elfctrle dab 34 1942
Uax West Pow coa cvb S 1923
LaeljSd Uts 1st
U it VTyera dcti reg
Xs 4s Uiui db reg
I" Larittard ilit tt
f fj&vwi jwo res
5
3
7
S
1
S
1950
1910
ia-u
n
1931
., . Ptertw OK am deb 6 1924
93 U
93 i
98 U
99
100
924
106.
1011
98 U
82
89
1004
1004
83
1134
no
.7ii
sia
03
99
83
93 Vi
98
Hi
92
103
1004
100
100
101 '
97
81
97
93
1004
I'.M
10:
12
l'i
Offer.
034
101H
108
103
100
10S
1014
804
114s
lii
044
100i
804
90.
87.
106
1014
102
1014
103
a4
984
i)4
137ix
127 i
iwc
New York Stock Sales
, tat close, High. Low. Close.
Alasls J Gold M OH OH OU OH
Alaska Gold Mines. .. . 19H 10H 19H 10)5
Allls-Chslmerj Mfe,... 20 29H 29 29H
Am Ag Chemical .67 03 08, 68
AmDeet8uar,.. 7m 72 7lW 72
Am Can 01M 01X 01 OIH
AmCar&Fdy 08Vi 6DH 09), 003
AmCoairroducts....lCO 102J. 100 101h
Am Cotton Oil.. 61 &J , 64 M
Am Linseed 21 2Ut 24 24
Am Linseed pf........ 46't 40 45! 40
Am Locomotlro 70 705t 79M 79H
Am Ixcomotlvo pf....l03JT lot 101 101
AmMaltCorpn 8 8tf 8!i 8
Am Smelt & llcf....,,1003i 102H 102 102H
Am Smelt pf n 85 80 85J Mi
Am Steel Foundries... mi 51 61 61
Am Tel &Tol ....127U 127J. 127!, 123
Am Tobacco.... 197!i 199H 198 198
Am Tobacco pt now... 100 100H 100 100K
Am Woolen 50 61 60 60
Am Woolen pf mH 99, 09 09
Am Wtltlnff P pf 19!f 19J, 19! 19!f
AmZlnoIi&Sm 8SM 89U 881 89
Anaconda Cop M 80!. 87J 805, 80J,
Atch Top & 3 P pf,..100H 101 101 101
Tiald Loco Works 101W 10fiJ 103 lOoW
Haiti: Ohio 80J, 87)i 87)4 8ib
Datopllas Minim 2H 23, 2H 23,
Bclhlehcm Slccl 491 400 4R. -100
Bethlehem Steel pf.,..135 10o 135 135
Brooklyn Hap Tr S5 R55i 83 85 4
Buh Terminal 110 U2'f 112U HSU
Butte & Superior 001, 915-S 90S DIM
Cal rotrolcum pf GlJi" 61M 614 AH
Canadian Paclfie 107 1003, 1G0H 100)
Central Leather KM MM 54 64.
Central Leather pf.... 110 111 110 111
Chandler Motor 02 02 02 02
Ches&Ohlo 0t? 013, 01M 01H
Chile Copper 22S 22i 22 22W
Chlno Copper 63), 65f 55 55
CM Mil & St P 03 0.1H 03), 03H
Chi III &rac 17 17 10.' 1;
Cluettrea&Co 73 74 3 74
Col Fuel & Iron 4 ) 45 46 in
Col & South 1st pf.... 49!X 40 40 40
Consolidated Gas 131W 135 135 135
Corn Products Ilef.... 20H 20K 203, 20
Crucible Steel 02 03l 0?5 02M
Cniclble Steel pr 113M H0!i H5J, 110M
Cuban-Am Susar 2133X241 211 241
Detroit ndlson 132 131 131 131
Detroit United Itys 88 80 80 89
Distil Sec Cotpn 47' 48 471$ -17K
Erlo 30H 30'15 30M 30!i
Ted Mln & Sm pf 40 39H 39!j 39)4
Gen Chemical 310 344 310 344
Gen Chemical pf 110 116 11 llo
Goodrich B F 70 705, 70 0 '(
Grcene-Cananca 40 60 49)1 49U
Great Northern pf 121 121. 121M 1213,
G N cfe for ore prop.. 434 433,' 4354 434
GuccenhelmExplnt... 20!f 21 31 21
Int Acrlcultural 20 10)5 10W 10)4
Int ABdcultural pt.... 68 59 59 (.9
Int Paper 1D 14 UM UX
Int Paper pf 40)4 48 47 47
Int Con Cor v t c sh. . 1054 1034 10!i 16J4
Int Con Corpn-pf 72H 73 73 3
InspConCop 47JS 48H 48 RM
Int Nickel v t cfs 47 473X 434 4H
IntMMcofdp 17 17M 10f 1054
Int M M pf c of dp.. COH 71i 704 0 i
Jewel Tea 8334 8tH 8334 84)4
JewclTcapf 110 110 110 111)
Kan City Southern.... 25' i 2534 2534 2534
KOFtS&Mpf 64 03 03 Oo
Kelly Sprlns Tiro 75)4 75H 7534 7.. 4
Konnecott Copper 684 63)5 5S4 6St
Lack Steel Co 7034 7634 7054 70)4
Leo Uubber Tire 61)4 62)4 51JJ 6234
Lleeett & Myers 240J4 248H 217 217
Llccctt & Myers pf...H8 119)4 119)4 1104
Maxwell Motors 71 72)4 71)4 7234
Max Motors 1st pf.... 85 SO 85)4 hO
Max Motors 2d pf.... 55 60 554 55' t
Mexican Petroleum,... 10SM 11054 109)4 110)4
Minn & St Louis 0 034 0)4 0)4
Miami Copper 33)4 38M 38)4 38J4
National Biscuit 1224 123 123 12.1
Nat Enam & S Co.... 21H 244 214 24'4
Nat Lead Co 07 07 07 07
Nev Con Cop 17)4 1734 175 13,
New York Air Brako..l4J 141 143 144
NYNH&II 034 03 62)4 02)4
STOt II It 1031-i 104W 104)4 104)4
Norfolk & Western.. ..120)4 121)4 121 12U4
Northern Pacific 112)4 1134 113 1134
Pennsylvania If 5054 60)4 5034 5034
Peoples Gas CM 10134 10U4 1044 104)4
Philadelphia Co 43 41 43)4 43J5
Pitts Coal Co N J 27 2734 27)4 2734
Pitts Coal X J pf 102W 103 103 103
.Pressed Steel Car Co. . 52 52)4 62)4 52)4
Pullman Co 101 101 101 101
Quicksilver 3). 334 3)4 3)4
Ray Con Copper 21 214 -'4 24
Readinc S4)i 844 844 844
Reading 2d pf 10)4 44)4 444 414
Republic Iron S.... 60). 51 51 51
Republic I &S pf 10S34 10SH 103)4 10S34
Rock Island 34 M )j H
Rock Island pf 34 )4 H )4
St Louis &SF 2J4 234 24 2)4
St L & S F 1st pf 0 5)4 5)4 54
StL&SF2dpf 3'4 3)4 3)4 3)4
Shat Ariz Cop 30 30)4 30 30)i
Sloss-Shef S & I IF i 30 50 50
South Porto It SU2....20J 214 204)4 210)4
Southern Pacific 074 07)4 97)4 074
Standard MllUnj pf . . . 8S)4 89 884 8h34
Studebaker Co 141M 142)4 14134 1414
Tonn Copper 53'4 54)4 53)4 64i
Texas Co 192'4 1934 194 1954
Texas Co rlshts 17 174 17)4 1734
Third Avenue 01 61J4 61)4 6154
Union Baz Jt Paper... 7 7M 734 734
United Clear Stores... 95 944 04i 044
United Clear Mfrs 6U4 01)4 01)4 01)4
Union Pacific 13234 132H 13234 1324
Union Pacific pf 824 83 83 S3
U Slnd Alcohol 1534 157M 13454 155)4
United Fruit 14034 147)4 1464 1474
USOIP&F 21H 214 2134 21)4
USOI P & F pf.... 5134 52 52 62
Un Rys Inv Co pf.... 2UJS 30 30 30
U S Realty a: Imp.... 44)4 434 43)4 434
U a Rubber 51)4 60)4 50)4 50)4
US Steel Corpn 81)4 81)4 S454 84)4
U S Steel Corpn pf.... 1104 110)4 11054 11034
USSmR&M 08)4 09)4 OSH 09)4
U S Sm R & M pf.... 52 52 52 52
Utah Copper S2H 8234 8234 b234
Utah Securities 1734 17)4 17H 174
Wabash .14)4 15)4 15)4 164
Wabash pf A... 0 404 4034 4035
Wabash pf H 2734 2S 28 28
UestE&M 0134 05)t' 01)4 05
Western Maryland 32 32 32 32
West Union Tel OW 01)4 01)4 9134
Willys Overland 223 223 i25 225
WooUorthFW 12-)4 123 123 123
WooUortb FW pf,... 124)4 1244 121)4 124)4
LOCAL MINING STOCKS
TONOPAH STOCKS,
Bid Asked
Jim Butler ' .Ji
MacNamara ..,,.., "J Jja
Midway -., -' z
MUpah Extenalon ;u j
Montana , f ;;
Northern Star -IS
Tonopab Belmont ..,,.,.,,..... 4J 44
Tonopab Extension jH B
Tonopab Mining ............... V. Hit
Rescue Eula .......,,.,.. -JJ ,30
West Hnd ..,,..., .,,.,.,, ,76 .76
GOLDFIELD STOCKS,
Atlanta ,., ... Jj .14
Dlute pull ., 03 .04
Ilooth ,,,,.,.,,,..... .1 ,IB
Ilulldog ..,..., ..,. ,oj ,Ow
ODD ,....... .,, .03 .01
Combination Fraction ...,..,... .07 .Oa
niemondfleld'U U ,, ,. ,02 ,03
Daisy . ..,, ...,..,..,,. .01 ,03
Florence .40 ,45
OoWnejd Consolidated ,...,,,.., .76 ,77
QoIdHeld Merger .....,..,, 12 ,13
Jumbo Extension .............. .72 ,75
Kewanas ,..,,.,.......,,,,... . nil?
ro . i: ,,,,,,,,,,,,, i;2' 0J&
Hand Ken ,.,.., , , .05 ,06
Silver Pick .07 .OS
MISCELLANEOUS.
Falrv Asteo , 01 .02
Ktraberly ...i 01 .02
Nevada Hill , 17 .18
Arizona Un ,.,,......., .33 .40
Nevada Wonder 1.83 1.00
DIVIDENDS DECLARED
Reece Buttonhole Machine Company, regular
quarterly of 3 per cant., payable April 15 to
stoclc of record April 1.
International (luttonbole Sewing Machine
Company and Reece Folding Machine Company,
regular quarterly of 1 Per cent, each, payable
April 13 to stock of record April V
Kentucky Securities Company, regularly
quarterly of 14 per cent., payable April 15
to stoclc of record April 1.
Securities Corporation General, regular quar
terly of 14 per cent., payable April 13 to
stock of record April 1.
Pennsylvania Lighting Company, regular
quarterly of 14 per cent., payable April 13
to atock of reoord April L
Plymouth Cordage Company, regular quar
terly of 2 per cent., payable April 20 to stock
e( record April 1.
" i ' '
Pacific Gas Resumes Dividend
NEW yoRK, April l The Paclflo Cas
and Electric Company declared a quar
terly dividend of 1U per cent on the com
mon, atock, pa.ya.blo April IS, to stock of
record March 31 Tbla is tlie first each
dividend paid on this stock sinca April 15,
J 3 is Quarterly dividends pf J i per cent.
bav.pff b-sen paid from April 1$, 1813, io
CASH PLENTIFUL
ON PARIS BOURSE;
SEE NEW LOAN
Government Issues and In
dustrial Stocks Are
Active
URGE BOYCOTT ON FOE
Commercial Campaign Against
Germany After Peace
Advocated
By YVES OUYOT
Ex-Xtlnlater of rulllc Works, Editor IAgence
Economlque et Flnnnclcre.
Sprclfll Cnble to Evening Lttaer
PAntS, April 1. Tho financial situa
tion, both private and public, continues
excellent. There Is plenty of money on
tho Bourse, not only because there Is real
activity both In Government issues rind
In Industrial stocks, but nlso becatiso tho
quarterly liquidation Is occasioning no
stringency or flurry. .
There Is a heavy demnnd for both 3 per
oent, and 3'4 per cent, rentes, without as
many sellers as buyers. Both series of
uovernmeni issues nro cuuwiiuiuk iu u.
Monev on the Bourse Is nt only 4 peW
cent, while on tho curb G-i Is asltcd.
As for public finances, the Government
Is still getting nil tho money needed by
temporary loans nnd bonds of national
defense, and a now loan, though foreseen,
Is still some dlstanco In the future.
Tho question of exchango Is always
present, and exchango remains high
ngnlnst Franco, and cannot bo otherwise
while Imports contlnuo so much moro than
exports. Tho largo circulation Of bank
notes nlso has n bad effect on exchange,
and there Is n concerted attempt being
mnde to Introduco the use of tho check
system moro widely.
Tho statement of tho Bank of Franco
shows tho stock of gold holds up, despite
shipments out of tho country for tho open
ing of now credits.
In furtherance of tho plan of organ
izing a commercial campaign ngnlnst Ger
many after pcaco has been signed, a proj
ect has been placed beforo the Chamber
of Deputies to put a high tariff on all
German goods and to sign commercial
treaties with other nations, giving them
preferential treatment. In order that
Germans may not bo nblo to slip In by
a. side door, the plan Includes a proposal
for tho registration of all foreign com
mercial houses or agents In France, with
a system of lines nnd Imprisonment for
failure to register or for faiso registration.
PHILADELPHIA
MARKETS
PROVISIONS
There wns llttlo trndlng but values ruled
firm. Quotations: City beef, in sets, smoked
and nlr-drlivl, l!.1(32ilc. ; "Western bci-f. In sots,
smoked. S."02Uc: city beef, knuckles nml ten
deri. nmoked nnd nlr-drlcd, 272f. Wjstern
beef, knuckles nnd tenders, smoked. 27028c;
beef hnms, J28O30: pork, family. 2.30O2ili
liiims, S. P. cured, loow, 174 18c; do.,
skinned, loose. lTiQlfc, do., do., smoked,
lH'.iWIflc. ; other hnms. smoked, city cured,
as to brand nnd average, 174Mlhc. ; hams,
smoked. Western cured, 17481180.; do.,
boiled, boneless. 30c ; picnic shoulders. S. P.
cured. loose. 124c . do., smoked, lS'J Ol.l-ic;
bellies. In pickle, according to ncrR6e. loose.
1 4 IA ff 1 r.r hrntikfnt Iturnn. ns to brand nnd
average, city cured, 1718c. , do.. Western
cured, 1718c. : Inrd. Western rellned. tierces,
124c. ; do., do., tubs, 124c, do., pure city,
kettle rendered, In tierces, 12 lie: do., do.,
In tubs, 12'4c.
Tho market was quiet but steady. We
nuot..; i;xtr.i fins granulMed. 7c; powdered,
7.10c: confectioners' A, O.OOc.i soft grades,
0.23u.83c.
DAIRY PRODUCTS
CHEESE The market ruled firm under lleht
offcrlnira. but trade wns quiet. Quotations: Pew
York, full crenm, fancy, 18"i01Oc.; do., do.,
fair to Rood. held. 18S184c; do., do., part
skims, 11010c.
POULTRY
LIVE Offerings were llcht nnd the market
ruled Arm with it fair demand for desirable
stock. Quotations: Fowls, lh4194e.: roost
ers. 12CP13C.; sprint; chickens, soft-meated.
1020c: do., staeuy. 11'iMuc; ducks nn to
size nnd quality, 18 020c: neese. 1710c:
pigeons, old. per pair, 28030c. , do., soune.
per pair, 2022c
FRESH FRUITS
The general market wns quiet and without
important chance Quotations: Apples, per
bbl. Wlncsap. $3SI. IUIdwIn. 2. fin 3. 25;
Orecnlns, J2. -'.-,:!. lien Davis, tl.7.101'2.2,;
other .varieties. tl.BOOU.,10; No. 2, Jl. 2.101. GO;
apples, In bulk, per 10(1 lbs.. oOc.0tl.no,
npples. Western, per box, S1.2ri(S,2: oranges,
Florida, per crate. $2.!0(pl, tangerines. Flor
ida, per strap. 1203.50: grapefruit, Florida,
per crate, 11.73WJ: lemons, per box. J2W3;
pineapples, per crate Porto Rico, t2..10(?3.S0;
Florida. i2.503.0; cranberries, Jersey, per
bbl., JU07. do.. Jersey, per crate, 1102.25;
strawberries, Florida, per qt. Kefrlserators,
30 W 40c; open crates, 20330c.
VEGETABLES
but demand
White pola-Sl.Sit?1.4:
ii.i.fwi..u
Choice stock was cenerally firm,
was only moderate. Quotations'
toes, rer bush. Pennsylvania.
New Ytrk. St 1B8J1"(I: M'entern
white potatoes, Jersey, per basket No. 1 roe,
"Jwtnc, so, i oiuer variciies, novDC.; ."SO.
2, sOw-iOc, : white potatoes. Florida, per bbl.
No. 1. 1707.50; No. 2, til7; sweet potatoes,
Jersey, per basket No, 1 .fonoc. ; No. 2.
2.i30c. : sweet potatoes, Jereey, Delaware and
Maryland, per hamper No. I, 75c.(lll; No,
2. aouuo. : sweet potatoes. Virginia, per bbl..
Sl.S0Wl.7n; onions, per lOO-lb. bag- No. 1,
no. .-, 7SC VI 1.2.1. rnbbage, Danish,
JlOft'20; do.. Florida per hamper,
!3; do., South Carolina, per crate,
celery. Florida. Der crate. 11.7.1ft
...o: sninacn, rvorioiic, per ddi., siui.ou; Kale.
Norfolk, per bbl., H070c; lettuc Florida,
per basket. J2O3.B0: do.. South Carolina, per
basket, S22..10; do.. North Carolina, per
basket, I23; beans, Florida, per basket, S2&
3.50: peas, Florida, per basket, I3u; peppers
Florida, per carrier. Sl.00if3.25; eggplant,
Florida, par crate, S22.n0; tomatoes, FlorlJu,
per carrier Fancy, S1.752; choice, S101.3O;
asparagus, per crate South Carolina. J5(4;
Georgia. J2.25O3.50; California. S23.50,
mushrooms, per -4-lb. basket, 73c, 11.40.
SI 7 .It
per ton,
75c SI.:
Sl.r02;
RAILROAD EARNINGS
COLORADO AND SOUTHERN.
. lOlfl. Increase.
February gross Sl.23tl.320 1126,885
Net 403.0115 173,140
Eight months' gross.. 10.812.724 803,825
Net 8.501,423 874.048
MINNEAPOLIS. ST, PAUL AND 8, S. MARIE
February SI. 385,024 S 100,521
Net I.... 32l.7fc0 21204
Eight months' gross., 15,831, sou s,is,2S8
Net 6.607.770 2,223,116
(Chicago Division.)
February gross 1071.312 J 167, 602
Net 337,024 12.1. MO
Kight months' gross , , 7,738,547 1,113,218
Net ,,,, 2,762.183 1,036,028
VIRGINIAN RAILWAY,
February gross ,..,, 1747,035 1307,410
Net after taxea... 383,439 222 II H
Eight months' gross,, 4,1)24,11.18 010,571
Net after taxes ,,, 2,234,830 64,A70
NEW YORK CENTRAL & HUDSON RIVER.
(Exclusive of Boston and Albany,)
February gross ,,,.,.S15.23l,375 S3.306.110
Net 4.330.2G8 2,888.553
Two months' gross ,,, 30,120,420 7,276,180
Net 8,628,468 S.105.816
BOSTON AND ALBANY,
February gross ...... 11,503.382
Net , J...,, 385,740
Two months' gross .. 3,150,000
Net . , , . 827.0VI
PENNSYLVANIA.
(Lines East.)
February operat'g rev.tSl. 188.067
Net operating revenue 3,822,623
Two months' op. rev. 43,201.915
Net operating revenue 8.631.831
(Lines West.)
February oper. rev. .J10.408.0S2
Net operating revenue 1,822,003
Two months' op. rev. 31.076,233
Net oDeratina' revenue 4.261.448
February oper. rev., S31. 396, 750 J8, 180.581
Net operating revenua 5.844.029 S.986.086
Two months' op. rev. 64,278,180 16,041.375
Net operating revenue 12.893,403 8.113.390
PENNSYLVANIA RAILROAD.
February gross S4.883.62J S2.161.895
February net 2,707.671 1,843,476
Two months' gross... 10.519.287 4.836.963
Two months' net 5.952.806 4.068.109
FlTTJBURaH. CHICAGO. CINCINNATI AND
ST. UUUIB BAUiWAI UOalfANY.
J438.6S7
227,183
782,210
443.740
J3, 221, 783
2,775,318
10.170.449
0.083.003
S2.859.268
1.220.767
5.801,025
3,018,881
February gross . . .
February net
Two months gross.
Two months' net .
J708.7U4
'-SJ.U31
1,778,995
VLt.lH
1430.591
388,327
1,018.607
818.330
Crude Oil Up 5 Cento
SAN FRANCISCO. April 1 The Stand
ard OH Company of California has d
vanced the price of crude oil $ cents a
Sales in Philadelphia
... "'Sh.
12 Am tins ,,.t,izo.
400 Am Milling ,, 1
10 Am llwj-s . t , 85
n Hurt A sus.t o 44
1)0 Cam Iron .,, 45..
3000 Klec Stor . . 01 H
43 Ins Co N A.. 26
10 Lk Sup Corp, 10'i
107 Lehigh Nav.. 73 H
10 beh V Tr pref 43
200 Northern Cent 83.
323 Nevada Com, 17H
249 l'ennn R 11... not
5 Penna 8a MfglOl
118 Penna St pref 98
(St Phlla Co 44.
240 Phil R T tr ctf 18 i
110 Tonopah Ilel.. 4'i
33 Union Trac. 43 ji
138 Un Ons Imp.. 8Si
100 It 8 Steel.... R4I
100 Utah Copper.. 82
Net
Ixiw. Close, chge.
7H 74 H
41 44 U
45 45. ,..,.
01 OIH H
25.H 2H J
10i 10 i H
73H 75H .....
43 43 H
8S 88., .....
hl gig 4U
101 101 .....
08. 88,, ..,,.
43H 43J4 H
18S 18S
4H 44 Jii
43S 43W
Kft U
10 . ....
8 l'i
101
B Wnrw lr & St 10 i 10 i
Tola! snln2ll91 share, compared with 8107
shares Inst Hntiintnyi for neek, 30,312 shnrem
Inst Mffk, 64,352 nhnrea.
" BONDS.
Illuh.
SOOO Raid I, 1st n.in.14
1000 C 4s 1038 reg.l02H
,100 City 4s 1014. 102k
Mno 8 J PTr 4s. 82
7000 Int By 4s , . . 'B8
10(11) .eh N R 4is.l02U
2000 Pa Gen 4 Us .102U
8000 do con 4Ws.I0.-'
1000 Phil C 1st 59 lot's
nun mil lilec 4s. 3
8400 do (is ,...10li
1000 Read an 4s . 844
6000 St Oas 4s ..lOl'i 101H 101
f increase. Decrease.
Low,
103"
102
1112 4
81 H
ns
102 U
102
105
101
88
104
Close?
105"
102
ltl.'4
81
r,M
102 W
4
,n
105 i
101H
83
104
04
Net
chgo.
si
if
, Total snles, Stn,300, rnmnnrrd Willi H22.A00
Inat Hnluril.Di for tverk, 338,600l lnnt neck,
377,000,
Local Bid and Asked
Today
. . Hid. Asked.
Buff & Sltl t 0 43 44
do pref ,,... 6ii tj 00 U
Drill JO 41 43
Baldwin lo.)'i lnni
Ulectrlc Rtorago 01 Mi 112
Uenernl Asphalt .... 30 37
..do pref 71. 72.,
Keyatono Tol UU 14J4'
do tr ctfs UH 11V
do prof All 70
Lnko Hun Corp loU loU
Lehigh Nnv 73 76
Lohlch Vnl 7H 77
Lehigh Vnl Trail.... 22 la 23
do prof 43 43 H
Pennsylvania nil's noti
Phlla Klec 274 27
Phlla Co 43t 44
do 5 per cent, pfd., 3H4 8I
dn 6 per cent. pfd.. 4214 43U
P, It T t c 18M I8J4
Iteadlnu 84 V4 81
lonopnh Ilehnont . . . 4?s 41
Tonopah Mining 0 il'i
Union Trnctlon 43"; 43?
United Oas Improv. . Hh 88i
U S Hteel Hl 8lH
Yorlc Railway HI. 11
do pref :li)(4 37
Wm Cramp t c .... 80 80'i
Yesterday
HI (I. Asked
liljj i
Ollti
41
103.,
m H
.111
7.
1.1 4
13(4
(III
75J
411
42;
3t4
124
84
II
43i
K8
84 '5
l"t
8(1 A
80
DO 14
43
103 4
37
72
1SU
u
7,1 4
77
23
I3J4
43?4
.111
43 4
111
84 Ji
43
88 J
HIS
II
:in ;
82
Financial Briefs
Xcw York batiks lost to Subtreasury
yesterday $811,000;
Gross earnings of 36 railroads for tho
third week In JIarch woro $11,936,229,
compared with $9,851,118 for tho satno
week last year, an Increaso of $2,085,115.
Copper exports from tho Atlantic ports
for tho week ended March 30 totaled
11,058 tons; slnco March 1, 24,006 tons.
Frank A. Kelly, forme. ly with tho Car
ncRlo Steel Company &nd tho United
States Steel Products Company, has been
appointed traffic manager, and elected n
director of tho American Exports Steel
Company. Tho ofllccs of the "Amorlcan
Kxports Company In Philadelphia will bo
moved to Now York.
Tho Bank of England reports tho
nmount of currency notes outstanding as
100,350,991, against 98,433,273 last
week. Tho amount of gold held for tho
redemption of such notes remain at
28,500,000.
Tho copartnership of tho firms of J. P.
Morgan & Co. and Drexcl & Co., which
expired yesterday as a consequonco. of
tho death of tho late J. Plerpont Morgan,
has been renewed.
The Rank of England shlped 340,000
in sovereigns to Spain nnd 25,000 to
Uruguay. ,
LONDON STOCK MARKET
Home Railways Rally on Improve
ment in Labor Situation
LONDON, April 1. Although the Stock
Exchange markets were quiet today, tho
feeling continued cheerful. The gilt- edged
section wns Arm,
The Government issued a statement
showing the expenditures of the United
Kingdom for the financial year, ended
yesterday, to have been 1,559,000,000 and
the revenue 336,000,000. The deficit was
62,500,000 below the estimates.
Following an improvement In the labor
situation on the Clyde home railway
shares rallied. The American depart
ment was listless nnd featureless, with
changes In prices narrow. Canadian Pa
cifies were firmer, but Grand Trunks were
Irregular. South American rails were
weakened again.
Steadiness was noted In foreigners. The
tope of Japanese descriptions was good.
The French loan was firmer, being quoted
nt 85. Business was quieter at Paris.
There was a further advance in Marconi's
nnd Royal Dutch shares wero buoyant
Sales of treasury bills from March 18
to March 31 aggregated 93,000,000, a new
record.
There was disbursed In dividends and
coupons today 13,000,000,
BIG GAIN IN CLEARINGS
Total
for Week 94,276,285,024, In.
crease 31.8 Per Cent.
An increase of 31.8 per cent. Is shown
In the bank clearings through the clearing
houses of the country for the week, all
cities exhibiting increases. The otal clear
ings for the week we. $4,276,285,9.24,
against $3,345,004,550 in the same week
last year, Philadelphia headed the list
as far as increases over the same week of
tho previous year are concernd, the total
in this city being 66.6 per cent, larger De
tails follow: '
New York. .12,045, 530, 208 SI. fiflO, 002, 47023.1
uosion ....
Philadelphia
llaltlmore ,
Chicago . ,
St. Louis. .
New Orleans
170,644,704
171.107.114
30,050,306
282,056,727
73,074.815
21,703,725
138,037.247. -23,1
1110,350,400--66.3
It-IO..US- -4-4, a
241, 667,002-. 17.1
68,810.704-. 5.0
15,720,10038.6
Seven cities, 5
days ....J2, 706,033, 877 S2. 257. 430. 11023.0
Other cities
5 days ,, 690,087,041 025,413,2714-83.2
Total all cities ' '
5 days ,. S3, 400.071, 318 $2,782,872,3034-25,0
All cities, 1
day 780,213.406 402,132,15768.8
Total all cities "
for week. $4,276,283,924 $3,245,001,5504-81.8
Local Reserve Dank Statement
The condition of the Federal Reserve Bank
of Philadelphia at the close of business Marcn
31 compares as follows:
RESOURCES.
March 31
Gold coin and certifi
cates In vault .... $5,882,705
Gold settlement fund
balance T)7oa.ooo
30,000
3,056.834
10,755,539
265,008
2.252,814
8,618. 722
4,206.263
3,830,040
$7,536,303 $7,530,640
March 21.
$6,200,740
6.440,000
60,000
I
.8.280.884
6.080.624
2711,006
6.111.267
8420.274
4206.265
8,344,375
Gold redemption fund
Legal tender note.
sliver, eta
Total reserve
Commercial paper . . .
Hank acceptances . . .
Total bills discounted
and bought
United States bonds.
Municipal warrants. .
Total Investment. .
Sua from other Fed
eral Reserve panics
net
Federal reserve notes
on band ..........
N o t of national
banks and other
Kedual Reserva
Banks
All other resources. ..
Total resource . . .
LIABILITIES,
Capital paid In . . . J5.211.8J0
Reaerv deposits net 27.137.418
Government deposit 310,010
All otter lUtll'.tlus 823
Total UiblUUes . . . J32,6,65 J $31,733,473
MANY STEEL MAKERS MAINTAIN
THERE IS NO CHANGE IN MARKET
Demand for Some Products as Large as It Has Been.
Inquiries From Abroad Relax Tonopah Bel
mont Quarterly Statement Good
$2,628,266
118.79
60,270
71.733
12.606.807
153.690
81.465
60.371
$32,683,633 $31,723,878
13.214,830
26,263.360
232,616
10,939
Despite reports to the effect that tho top
level for steel articles Is near at hand,
there are many makers who maintain that
there has been no change Intho market
situation nnd that prices continue to dis
play nn upward tendency. It Is pointed
out 'that tho demand for some products Is
Just ns largo as it over has b;cn, with
many users requesting early deliveries,
which Indicates that their needs have not
yet been satisfied and that further con
tracts can bo expected to bo placed In the
near future.
While It Is admitted that the Inquiries
from abroad havo shown soma relaxation,
It Is pointed out by tho best authorities
that the demand Is sufficient at this time
to keep the mills busy for many months.
The rnllronds In this country nre active
customers of the steel makers, and It Is
likely that the orders placed by tho car
riers for raits nlono during the last month
have approximated l.uOO.OOO tons for 1917
dollvcry in tho first and second quarter.
Such orders always bring with them con
tracts for spikes, bolts nnd other acces
sories, and the present buying movement
Is no exception In this particular. On
theso articles tho deliveries also aro to
be made during the first six months of
next year.
So far as locomotives and car buying!
are concerned there does not appear to be
as much activity ns heretofore, but this
Is attributed In tho trade to the fact that
deliveries on this equipment cannot bo
mado at the tlmo requested. It Is consid
ered altogether likely, howover, that ths
carriers will come Into tho market sooner
or later for equipment.
The combined statement of tho opera
tions of tho Tonopah Belmont Devalop
ment Company and tho Belmont Milling
Company for tho quarter ending Febru
ary 29, 1916, came out today. It showed
Income of $260,552, compared with $180,
826 in the quarter ended November 30,
1916, Totat Income, after adding Income
from other sources, was $267,271, against
$196,179 on November 30, On 'Change to
day Tonopah Belmont stock advancod n
small fraction.
Trading on tho local exchange today
was again on a small scale, with prico
movements 'Irregular. Philadelphia Com
pany, after advancing a point, lost half of
the gain. Buffalo nnd Susquehanna com
mon rose a small fraction. Tho traction
Issues wero off slightly.
COTTON PRICES DECLINE
ON LARGE OFFERINGS
Good Demnnd at Low Lovels Supply
From Wall Street
NEW YOniC, April 1. In tho fnco of
n sharp decllno In Liverpool and heavy
rains In Texas, tho opening on tho Cotton
Exchango this morning wns considered a
good one. Prices showed declines of 6 to
10 points. Tho demand was qulto largo
nt tho lower levels and thero was somo
profit-taking by recent sellers who pur
chased on tho call. A' supply came from
Wall street interests and commission
houses.
After the call thero were somo large
offerings In several options, one of 6000
bales of July at 11.99 being made, but
the buying continued largo enough to
hold prices nt a point or two abovo the
start at tho end of the first 16 min
utes. Private cables from Liverpool attributed
n decline of 5H to 6 points in thnt market
to selling of hedges nnd a supply becauso
of reports of rains In Texns. Local In
terests, however, believed thnt the drop
was duo In a Inrgo measure to easier
freight rates, which would bo bearish in
Liverpool and bullish here. Quotations
in the English market wero due to come
about one point higher.
Aside from tho heavy' precipitation in
the Southwest,, which rollovcd tho drought
In Texas, thero was llttlo feature to tho
weather. Temperatures wero about un
changed and clear conditions were gen
eral In other sections of the belt
March . .
May ....
July ....
October .
December.
January
Spot ....
Test.
Close. Open, High. Low. Close.
11, 34 11.3A 11.33 11,3.1
11.04 11.85 11.88 11.84
l'J.II7 11. III! l.'.lll 11.11.
12.14 12.011
12. .11 12.25
12.37 12.30
12.10 12.00
12.01) 12.00
12.2S
11.81
11.03
l-'.Ol
12.32
12.17 12.18
12.21 12.24
12.00
Liverpool Cotton
LIVERPOOL, April 1. Spot cotton was
dull today at 7 points decllno on tho
basis of 7.70d for mid-upland. Tho sales
were 3000 bales, including 2060 Amer
ican. The Imports were 1100 bales, all
American. The market for futures closed
barely steady at a net decline of 6&36
points.
PUBLIC UTILITIES
The February report of the Columbus
Railway, Power and Light Company
shows gross earnings of $280,700, an in
creaso of $32,104 over the figures for Feb
ruary, 1915; net earnings of $116,166, an
Increase of $16,584, and n surplus of
$70,791, or an Increase of $9936. For
the 12 months endecl February 29, the
report shows gross earnings of $3,167,994.
This Is a gain of $96,864 over tho same
period In tho previous year. The net
earnings for tho 12 months wero $1,296,
246, or an Increase of $99,089, and the
surplus was $811,914, an Increase of
$90,842.
February gross earnings of the East
St. Louis and Suburban Company were
$227,472, an Increase of $39,680, compared
with the same month last year. Net
earnings wero $90,766 against $74,469
and surplus $28,964, nn Increase of $16,
391. Twelve months' gross was $2,629,
856, n decrease of $51,570, compared with
the corresponding period; net was $1,018,
578, an Increaso of $2095, and balance
$63,788, compared with $2376 In the pre
ceding 12 months.
February gross enrnlngs of the Con
sumers' Power Company (Michigan) for
February wero $386,734, compared with
$310,811 In February of the previous year,
or an Increase of $75,923 ; net earnings
were $2S3,149, an Increase of $38,938.
Twelve months' gross was $4,048,729,
against $3,443,398 in 1914: net earnings,
$2,376,471, compared with $1,991,553, and
balance, $1,083,110, an Increase of $319,
604 during the period.
The Bangor Hallway and Electric
Company (Maine) reports February gross
earnings $62,406, an Increase of $2026 ;
net earnings of $28,221, a decrease of
$2694, and surplus, $10,442, a decrease
of $2837. Twelve months' gross was
$791,812, which Is an Increase of $9384,
compared with the corresponding period;
net earnings, $382,776, a decrease of $24,
444, and balance of $64,935, a decrease of
$27,793 from the (lgures of 1914.
Money in London
LONDON, April 1. Money, 4! per
cent., discount rate, short bills, 44i
per cent.; three months bills, 444i per
cent
lax Exempt in Pennsylvania
WE OWN AND OFFER t
Reading Co. Gen.4', Jan. 1997
Beech Creek R.R. 5's, July 1936
N.Y.Cent&H.R.R.R.4's,
May 1934
Penna.R.R.Gen. 4V2'8,June 1965
Penna.R.R.Cons.4,2's, Aug. 1960
Allegheny Valley Ry, 1st 4's,
March 194
Ptrflninra mi
A. B.4laR & Co.
IIS SOOTU FOUItTU STUKKT
BsllJPbone Lombard 257.
New York Chicago Uostoo London
7
PREFERRED STOCK
(l'ur Value $3.00?
UNITED CIGAK STORES, Lti
Our 1 Years' Dividend Becord
'""onuXeffc.Aaion Stock)
WriyT call Xf'finM lmmcdUtshr for
Z"tul Wforms-tlon,
A. H, MARTENS & CO.
925 Stock Exchange Building
Bail tbooo, Sonice. 1140-
INTEREST LACKING
IN CURB MARKET
Trading Small, With Narrow
Price Movements' Through
out Session"
NEW YOniC, April 1. There' was a
lack of Interest In tho market for outsldo
securities today. Trading throughout tho
session was on an extremely small scale,
with prlco movements narrow. Traders
wero less conspicuous, and outsldo bust
ncss wns lacking.
Mldvnlo Stcol showed fair activity at
tho start, and after moving up cased
off. Cuba Cano Sugar was almost at a
standstill and moved within a rnngo of
. Zlno Concentrating developed moro
activity on an Improvement of V4. Sub
marine Doat wns almost entirely neglect
ed. There was a slight Inquiry for Lako
Torpedo Doat at a fractional change.
Oil stocks wero quiet, but generally
steady. 'Tho lowor-prlcod shares woro In
fair demand. Tho United "Wcstorn, on
rather heavy dealings, moved up slightly.
Copper stocks woro firm and moderatoly
active.
Bonds wero dull and somewhat easier.
Aetna. ..,,,
Amer Int Co ...........
American KInrconi
Hrltlsh-American Tobacco
Chevrolet
Curtis Aeroplane
Cuba Cano Suiar
do pref
Her.den Mfe , , , ,
I,eh Val Coal Bales
.Mflftmu Copper ,
Mldvnlo
Nlnlsslnir ,
Otis IClevator
Otis Elevator pref
Peerless
Penn Mar Ord
lllker-Hegemann
Sterling- Oum
Submarine
Tobacco Products , ,
United ProHt new
World Film
White Motors ...,.
Yukon Gold
Hid. Asked.
- s
HI 17
ion i7oM
40 BO
OR 68 H
07 07 'i
25 28
83 H(l
104 11J4
ons out;
7 7H
10 03
U 338
00
5 !8
38 87
43 47
J J
NEW YORK COFFEE MARKET
NEW YOniC. April 1 The coffea market
opened a shads lower this mornlnc at declines
of k. t0 3. Poln'.8- but trading was quiet and
on ths call. Only 1700 bass changed hands.
Tnrlov'n Vsi..4.-I
Today's yesterday1;
,. .. J?r.'"nlns"' "lose.
Marqh 8.33 S.C1SWS.B7'
April .... 8,0208.03
May 8.10 8.12Q8.13
June 8.10 8.10M8.1H
July ,. 8.20 8.2008.21
August .... 8.258.2S
September 8.30 8.8008.31
October ., 8.34 8.8408.38
November i-ii- , 8.87 8.88
December 8.3008.40 8. 4008.41
January 8.4(108.4?
February .00W8.51
LIVE STOCK QUOTATIONS
CHICAGO, April 1. 1IOOS Receipts, 0000,
Market 10c. higher. Mixed and butchers, 10.10
lt. 4.1: good heavy, tl).3.1D.45i rough heavy.
10. 1000. 35; light, 10.2000.50; pigs, 17.83b
8.05; bulk. 10.3000. 45. " i."w
CATTLE Receipts. 200. Market steady.
neeves, i.uiwiii; cows ana neiiers, la.fog
o.rni: siocKers ana leeaers, ..oici.4Ui .
nns. J7.2508.OO: calves. 7.508.73.
SIIKEP Rece Dts. 200 Market steiTt
Native and Western, 1009.25; lambs, 104
11, uu.
BAR SILVER
In London bar silver was quoted at 29 pence,
up 1-10 pence. -
Commercial bar sliver In New York was
quoted today at 60T4 cents, up H cent., and
the highest price on this movement.
SEMIANNUAL STATEMENT
OF THE
Germantqwn
Trust Company
" ' March 31, 1916.
ASSETS
Cash and Reserve $896,853.31
Investments nd Loans. . 6,930.021.63
1 jm,im
LIABILITIES
Capital Stock $600,000.00
Surplus .1 . . . . . 900,000.00
UndivideaJJrrofits,
$124,154.17
Dividend May 1st,
30,000.00 94,154.17
Deposits 6,232,720.82
$7,826,874.99,
Trust Funds di CtC 1A7 12
(Kept Separate) tPll.DlfJ.U.1 .Lt)
WM. T, MURPHY, President,
CLARENCE C. BRINTON, Treqe.
ARCHITECTS
i , to Architect. Owner
In BBMiirvil hn 1 av-
llctlon UTudef No frllU
I I rsJrsjit nilltf Kat
fy GrftfjoiTadvlctt and
SatUfaeLUn
and ll&lfd.
rilllfCCpftj
ar lAJitlJ
coaipaUi
" f
HWmiS J. LATTA
Pennsylvania Bldg,
$100-
Charles J,
1NVESTM
Member Fhiladel
NORTH AM
Bondr
irTCo,
DS
Exchange
RICAN BLDG.
1 Hmk
1HBECTOBV OF ACCOPftTAKTS
CcrtUUJ 1'ulili ActbiiaUBU
w mzi&h mmis&m
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